Ukraine has moved down from 53rd to 68th spot in country rankings. According to Brand Finance’s press release, Ukraine saw its brand value decrease by 45%, from $80 to $44 billion, in 2015.

The top five of the worst performing countries also includes Peru, Honduras and Argentina. Russia’s national brand has also suffered a drop of 31%.

Valued at $19,7 trillion, the US is still the world’s most expensive brand, followed by China with a value of $6,314 trillion, which is 1% less than the last year’s result. Germany, the third most expensive brand, has lost 4% in value and is currently estimated at $4,166 trillion.

According to Brand Finance, Iran currently tops the rankings with its brand value soaring by 59% and currently standing at $159 billion.